Law firms implemented some of the highest billing rate increases in recent memory in 2023. And law firms are likely to push through similar increases in 2024 amid rising expenses and lingering regret among some firms that feel they didn’t go far enough this year, analysts say.

The rate increases will vary depending on law firm segments, survey pool, and other nuances. But multiple analysts this month have suggested the average standard rate increase in 2024 could be between 6% and 8%.